Future FinTech Group Stock Scheduled to Reverse Split on Monday, August 31st (NASDAQ:FTFT)

Future FinTech Group Inc. (NASDAQ:FTFT)’s stock is scheduled to reverse split on Monday, August 31st. The 1-4 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, August 30th.

Future FinTech Group Stock Down 14.3%

Shares of Future FinTech Group stock traded down $0.10 during trading on Thursday, reaching $0.58. 246,500 shares of the company were exchanged, compared to its average volume of 298,431. The business has a 50-day moving average price of $1.50 and a 200-day moving average price of $3.93. The firm has a market capitalization of $1.09 million, a price-to-earnings ratio of -0.08 and a beta of 1.89. Future FinTech Group has a twelve month low of $0.55 and a twelve month high of $62.08.

Future FinTech Group (NASDAQ:FTFT) last released its quarterly earnings data on Friday, August 14th. The company reported ($1.26) EPS for the quarter. Future FinTech Group had a negative net margin of 157.53% and a negative return on equity of 12.22%. The company had revenue of $0.33 million during the quarter.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Future FinTech Group in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Future FinTech Group has a consensus rating of “Sell”.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Future FinTech Group stock. Royal Bank of Canada purchased a new stake in Future FinTech Group Inc. (NASDAQ:FTFT) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 40,000 shares of the company’s stock, valued at approximately $31,000. Royal Bank of Canada owned 0.79% of Future FinTech Group as of its most recent SEC filing. 0.19% of the stock is owned by institutional investors.

About Future FinTech Group

Future FinTech Group Inc, incorporated in 2010 and headquartered in Shanghai, China, is an investment holding company listed on the NASDAQ under the symbol FTFT. Since its initial public offering in April 2017, the company has pursued a diversified growth strategy that spans beverage and agricultural production, digital asset operations, and consumer financial services. Future FinTech’s business model centers on acquiring and developing brands and technologies that align with evolving consumer and industrial trends.

In its beverage and agriculture segment, Future FinTech develops, manufactures and distributes a range of functional beverages, including coffee products under the CBK brand and hemp-infused offerings under the Hemp & Coffee label.